Guam – Some feathers are ruffled over at Adelup in the wake of the Calvo-Tenorio transition teams preliminary report projecting that the new administration will start with a $96-million dollar deficit in January.
Governor Camacho’s economic team at Adeulp declined to respond directly to the report Tuesday. But they have sent out signals that the 96 million is not entirely accurate.
A statement issued Monday, pointed out that the Calvo-Tenorio transition team had not yet met with the Camacho fiscal policy team. The statement added that they will provide an accurate report of the government’s fiscal position by December 15th.
And as Governor-elect Calvo acknowledged on the K-57 Breakfast Show Tuesday, some of the figures used to come up with the $96 million figure appear to be old debt, known as a structural deficit, which is not normally included in yearly deficits.